Innospec Inc. (NASDAQ:IOSP) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 89.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,201 shares of the specialty chemicals company’s stock after selling 50,780 shares during the period. Teacher Retirement System of Texas’ holdings in Innospec were worth $588,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Tsfg LLC acquired a new stake in shares of Innospec during the first quarter worth $35,000. Murphy & Mullick Capital Management Corp acquired a new stake in Innospec during the 4th quarter worth about $106,000. Covestor Ltd boosted its position in Innospec by 13.9% during the fourth quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company’s stock valued at $106,000 after purchasing an additional 118 shares during the last quarter. Polymer Capital Management US LLC acquired a new position in shares of Innospec during the 4th quarter valued at about $201,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Innospec by 8.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,868 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 151 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Insider Buying and Selling at Innospec

In related news, Director Leslie J. Parrette sold 446 shares of Innospec stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $90.63, for a total transaction of $40,420.98. Following the completion of the transaction, the director owned 5,497 shares in the company, valued at approximately $498,193.11. This trade represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Seaport Res Ptn raised Innospec from a “hold” rating to a “strong-buy” rating in a report on Monday, April 21st. Wall Street Zen downgraded Innospec from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th.

Innospec Trading Down 2.8%

IOSP stock opened at $85.08 on Wednesday. The firm has a market cap of $2.12 billion, a PE ratio of 78.78 and a beta of 1.05. The business’s 50-day moving average price is $86.81 and its two-hundred day moving average price is $96.04. Innospec Inc. has a 1-year low of $80.32 and a 1-year high of $133.53.

Innospec (NASDAQ:IOSP) last released its earnings results on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. The firm had revenue of $440.80 million during the quarter, compared to analysts’ expectations of $466.50 million. Innospec had a return on equity of 11.38% and a net margin of 1.51%. The company’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.75 EPS. On average, analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current year.

Innospec Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th were issued a $0.84 dividend. This is a boost from Innospec’s previous semi-annual dividend of $0.79. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a dividend yield of 1.7%. Innospec’s dividend payout ratio (DPR) is presently 155.56%.

About Innospec

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.